With gambling, you have a 50% chance of success. Either you win, or you don't. It's 50/50.
investment
Submitted 1 month ago by SSUPII@sopuli.xyz to [deleted]
https://sopuli.xyz/pictrs/image/5f38f53d-169b-44b7-bb89-d793230184a2.webp
Comments
TheImpressiveX@piefed.social 1 month ago
IhaveCrabs111@lemmy.world 1 month ago
You either win when betting your family home on 5000:1 odds or you win. It’s 50:50.
RandomVideos@programming.dev 1 month ago
Assuming you have a 50% chance to double your money and a 50% chance to lose all of it, you would have a 97% chance to leave with no money and a 3% chance to leave with 3200% of your money
ivanafterall@lemmy.world 1 month ago
FelixCress@lemmy.world 1 month ago
Probability however…
Aurenkin@sh.itjust.works 1 month ago
Hahaha yeah true…
Now go get your fucking shine box
montechristo@feddit.org 1 month ago
People how know what an expectation value is are typically not so fond of gambling. Reminds me of the story when a physics conference took place in Las Vegas and resulted in a really low take for the casino.
tias@discuss.tchncs.de 1 month ago
I gamble very rarely and am fully aware of its expectation value. But when I do gamble I still enjoy it, in the same way I might enjoy an amusement ride. Sure I part with some of my money but it’s just the fee for some thrill and entertainment.
If you start thinking of it as a way to earn rather than waste your money, you’re lost.
SSUPII@sopuli.xyz 1 month ago
I get my gamble dopamine from gatcha mobile games and Pokemon TCG packs
SkyeStarfall@lemmy.blahaj.zone 1 month ago
While I get this sentiment, to me it still feels pointless, because it all just seems… boring?
Because what’s the thrill? That you might win money? But then if you intentionally go in with your sentiment, there is no money to be won. The thrill is gone.
Why not just play a video game instead?
sp3ctr4l@lemmy.dbzer0.com 1 month ago
Hi, Econometrician here.
We routinely and regularly refer to State run lotteries with such phrases as ‘the idiot tax’.
As in, it is a regressive form of taxation, that hurts idiots.
…
I’ve actually gambled once in my entire life, at a horse race.
My strategy?
Walk in with $40 bucks.
Place a $5 dollar bet on the horse with the silliest name.
… I ended up walking out with $60 bucks, after being able to pay for a hot dog / fries / drink.
Stonks.Gambling.NeatNit@discuss.tchncs.de 1 month ago
I love that factoid! It was also a question on Lateral podcast. I just spent a few minutes trying to find it on their highlights channel on YouTube, but no luck.